51) If the labor market becomes more efficient so that the unemployed are more quickly matched with jobs, then

A) the natural rate of unemployment will increase.

B) the natural rate of unemployment will decrease.

C) the natural rate of unemployment will not change.

D) the natural rate of unemployment could either increase or decrease.

52) During the early 1990s, companies started downsizing. One of the results of this downsizing was the permanent reduction in the number of middle management positions. This change in the way businesses operate would have

A) increased the natural rate of unemployment.

B) decreased the natural rate of unemployment.

C) not affected the natural rate of unemployment.

D) could have either increased or decreased the natural rate of unemployment.

53) The increase in unemployment that occurs during recessions and depressions is called

A) frictional unemployment.

B) structural unemployment.

C) cyclical unemployment.

D) normal unemployment.

54) Cyclical unemployment is the

A) portion of unemployment that is due to changes in the structure of the economy that result in a significant loss of jobs in certain industries.

B) unemployment that occurs during recessions and depressions.

C) portion of unemployment that is due to the normal working of the labor market.

D) unemployment that results when people become discouraged about their chances of finding a job so they stop looking for work.

55) The demand for refrigerators falls when the economy enters a downturn. If a refrigerator manufacturer lays off workers during an economic downturn, this would be an example of

A) frictional unemployment.

B) natural unemployment.

C) structural unemployment.

D) cyclical unemployment.

56) The economy is in a recession and the housing market is in a slump. As a result of this, a real estate firm lays off half of its real estate agents. This is an example of

A) frictional unemployment.

B) structural unemployment.

C) cyclical unemployment.

D) natural unemployment.

57) During the severe recession of the early 1980s, cyclical unemployment increased as the recession continued. This increase in cyclical unemployment would have

A) increased the natural rate of unemployment.

B) decreased the natural rate of unemployment.

C) had no effect on the natural rate of unemployment.

D) caused structural unemployment to decrease.

58) During the Great Depression, the unemployment rate rose to about

A) 15%.

B) 25%.

C) 40%.

D) 50%.

A) increased; increased

B) increased; decreased

C) decreased; increased

D) decreased; decreased

60) Related to the Economics in Practice on p. 445: If more women enter the labor force and the number of available jobs remains unchanged, the unemployment rate will, ceteris paribus,

A) increase.

B) decrease.

C) remain unchanged.

D) equal the natural rate of unemployment.

61) Related to the Economics in Practice on p. 447: Compared to students who graduate college and obtain employment during an economic expansion, students who graduate during a recession often find that starting wages are ________ and wage growth is ________.

A) lower; slower

B) lower; faster

C) higher; slower

D) higher; faster

51) If the labor market becomes more efficient so that the unemployed are more quickly matched with jobs, then

A) the natural rate of unemployment will increase.

B) the natural rate of unemployment will decrease.

C) the natural rate of unemployment will not change.

D) the natural rate of unemployment could either increase or decrease.

52) During the early 1990s, companies started downsizing. One of the results of this downsizing was the permanent reduction in the number of middle management positions. This change in the way businesses operate would have

A) increased the natural rate of unemployment.

B) decreased the natural rate of unemployment.

C) not affected the natural rate of unemployment.

D) could have either increased or decreased the natural rate of unemployment.

53) The increase in unemployment that occurs during recessions and depressions is called

A) frictional unemployment.

B) structural unemployment.

C) cyclical unemployment.

D) normal unemployment.

54) Cyclical unemployment is the

A) portion of unemployment that is due to changes in the structure of the economy that result in a significant loss of jobs in certain industries.

B) unemployment that occurs during recessions and depressions.

C) portion of unemployment that is due to the normal working of the labor market.

D) unemployment that results when people become discouraged about their chances of finding a job so they stop looking for work.

55) The demand for refrigerators falls when the economy enters a downturn. If a refrigerator manufacturer lays off workers during an economic downturn, this would be an example of

A) frictional unemployment.

B) natural unemployment.

C) structural unemployment.

D) cyclical unemployment.

56) The economy is in a recession and the housing market is in a slump. As a result of this, a real estate firm lays off half of its real estate agents. This is an example of

A) frictional unemployment.

B) structural unemployment.

C) cyclical unemployment.

D) natural unemployment.

57) During the severe recession of the early 1980s, cyclical unemployment increased as the recession continued. This increase in cyclical unemployment would have

A) increased the natural rate of unemployment.

B) decreased the natural rate of unemployment.

C) had no effect on the natural rate of unemployment.

D) caused structural unemployment to decrease.

58) During the Great Depression, the unemployment rate rose to about

A) 15%.

B) 25%.

C) 40%.

D) 50%.

A) increased; increased

B) increased; decreased

C) decreased; increased

D) decreased; decreased

60) Related to the Economics in Practice on p. 445: If more women enter the labor force and the number of available jobs remains unchanged, the unemployment rate will, ceteris paribus,

A) increase.

B) decrease.

C) remain unchanged.

D) equal the natural rate of unemployment.

61) Related to the Economics in Practice on p. 447: Compared to students who graduate college and obtain employment during an economic expansion, students who graduate during a recession often find that starting wages are ________ and wage growth is ________.

A) lower; slower

B) lower; faster

C) higher; slower

D) higher; faster

51) If the labor market becomes more efficient so that the unemployed are more quickly matched with jobs, then

A) the natural rate of unemployment will increase.

B) the natural rate of unemployment will decrease.

C) the natural rate of unemployment will not change.

D) the natural rate of unemployment could either increase or decrease.

52) During the early 1990s, companies started downsizing. One of the results of this downsizing was the permanent reduction in the number of middle management positions. This change in the way businesses operate would have

A) increased the natural rate of unemployment.

B) decreased the natural rate of unemployment.

C) not affected the natural rate of unemployment.

D) could have either increased or decreased the natural rate of unemployment.

53) The increase in unemployment that occurs during recessions and depressions is called

A) frictional unemployment.

B) structural unemployment.

C) cyclical unemployment.

D) normal unemployment.

54) Cyclical unemployment is the

A) portion of unemployment that is due to changes in the structure of the economy that result in a significant loss of jobs in certain industries.

B) unemployment that occurs during recessions and depressions.

C) portion of unemployment that is due to the normal working of the labor market.

D) unemployment that results when people become discouraged about their chances of finding a job so they stop looking for work.

55) The demand for refrigerators falls when the economy enters a downturn. If a refrigerator manufacturer lays off workers during an economic downturn, this would be an example of

A) frictional unemployment.

B) natural unemployment.

C) structural unemployment.

D) cyclical unemployment.

56) The economy is in a recession and the housing market is in a slump. As a result of this, a real estate firm lays off half of its real estate agents. This is an example of

A) frictional unemployment.

B) structural unemployment.

C) cyclical unemployment.

D) natural unemployment.

57) During the severe recession of the early 1980s, cyclical unemployment increased as the recession continued. This increase in cyclical unemployment would have

A) increased the natural rate of unemployment.

B) decreased the natural rate of unemployment.

C) had no effect on the natural rate of unemployment.

D) caused structural unemployment to decrease.

58) During the Great Depression, the unemployment rate rose to about

A) 15%.

B) 25%.

C) 40%.

D) 50%.

A) increased; increased

B) increased; decreased

C) decreased; increased

D) decreased; decreased

60) Related to the Economics in Practice on p. 445: If more women enter the labor force and the number of available jobs remains unchanged, the unemployment rate will, ceteris paribus,

A) increase.

B) decrease.

C) remain unchanged.

D) equal the natural rate of unemployment.

61) Related to the Economics in Practice on p. 447: Compared to students who graduate college and obtain employment during an economic expansion, students who graduate during a recession often find that starting wages are ________ and wage growth is ________.

A) lower; slower

B) lower; faster

C) higher; slower

D) higher; faster

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